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FUNDING

Medical startup ten3T raises angel funding from Pi Ventures

Bengaluru – based medical grade wearable device startup, ten3T, had announced on 14/12/2016 that it had raised seed funding in angel round of investments from its angel investor Pi Ventures. The angel round of funding also saw participation by a group of angels, including V. Krishna Prasad, Co-Founder of Qikwel, Bhupen Shah and other angel investors from Silicon Valley and Bangalore. The first wearable medical device developed by ten3T is called ‘Cicer’, which will enable people to monitor and improve their cardiac health. Read more on Investments

ten3T’s wearable medical devices collect and analyze medical data on a real – time basis. Each wearable medical device comes integrated with multiple sensors which collect and stream signals or data continuously like current data on pulse rate, respiratory rate, oxygen levels and body temperature. The data on these parameters is collected within 30 seconds by the wearable medical device and it streams data on the parameters on a real time basis. ten3T continuously collects and analyses medical data on its intelligent cloud based platform to provide doctors with accurate medical grade analytics and predictive modeling.

The founders of ten3T have vast experience in the medical and biomedical fields. The founders and co – founders of ten3T are Dr. Sudhir Borgonha, a physician and an entrepreneur who is a graduate of St. John’s Medical College, Bangalore and the Sloan School of Management in MIT and two biomedical engineers: Rahul Shingrani, who is a graduate of Marquette University and has years of research and development experience in the medical device space and Prasad Bhat who has experience in regulatory and quality systems in medical devices.

Dr. Sudhir Borgonha, Co-founder & CEO of ten3T, said, “Medical care continues to be traditionally managed. With technological advances, there is an urgent need to build more powerful diagnostic capabilities coupled with interpretative tools. ten3T integrates its proprietary hardware and software to build convenience, cost benefits and intelligent reporting to the physician and patient. It is our vision to make cardiac care preventive, predictive and accessible to all”.

Manish Singhal, Founding Partner of Pi Ventures, said, “We are very excited to partner with the talented team at ten3T. Sudhir and his team have done some path breaking work in bringing out a compact and medical grade device. We believe that Cicer will make ECG and cardiac health monitoring easy, intelligent and more accessible for all, across India and globally. At Pi Ventures, we are looking to support disruptive product companies in the Applied AI, ML and IoT space and ten3T presents a very compelling case”.

The funds secured from the angel round of funding will be used to beta test ten3T’s first medical wearable device, Cicer, in multiple healthcare settings, including doctors in private practice, nursing homes and for at-home monitoring. The real time monitoring and medical data provided by Cicer, will enable a number of smaller nursing homes, without an ICU, to offer ICU equivalent services at their nursing homes. Cicer may be worn to get instant or continuous health readings. Cicer is enclosed in a 9 cm wide smart patch, which is held against the chest for 30 seconds to generate health readings. It may be taped to the chest to get continuous readings.

Rahul Shingrani, Co-founder & CTO of ten3T, said, “Being self-enclosed, the device requires little training. Collecting large volumes of clinical grade data will help us build predictive tools, bringing artificial intelligence into the clinic”.

The device (Cicer) developed by ten3T is very useful and innovative indeed. Many poor people in India, who cannot afford to pay for established hospitals to get medical treatment, go to small nursing homes. Some of them even go there with serious illnesses. Cicer will enable these small nursing homes to monitor the health of patients continuously and prescribe the required medicines or give the required medical treatment. They will be able to provide ICU level of care even though they do not have a separate ICU ward. The lives of many poor people can be saved owing to this medical device (Cicer). The fact that Cicer can be used to get instant health readings or continuous health readings is something that patients and doctors will find very convenient. It enables doctors to address patients with temporary illnesses and permanent deficiency diseases like diabetes etcetera. The Government of India should fund and promote more of such useful and innovative startups. Read more on Startup News

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Medical startup ten3T raises angel funding from Pi Ventures
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